Dubai-based start-up offers tailored well-being solutions for MENA companies & employees
Lifemost, a Dubai-based platform specializing in corporate wellness programs, has successfully secured USD 650,000 in a pre-seed funding round, which was co-led by MENA-focused angel investors. The funds raised will be allocated to further enhance product development, intensify marketing efforts, and explore new partnership opportunities within the MENA market.
Lifemost’s B2B platform offers companies the means to provide their employees with easy access to a wide array of physical and mental health activities, all available through a single mobile app. The platform encompasses four distinct product categories, catering to different company requirements. These offerings include access to a network of studios for various activities and training, corporate events and team-building sessions, educational lectures and workshops on mindfulness and stress management, as well as a range of online courses and live fitness sessions featuring over 350 pre-recorded classes. The platform is customizable, allowing businesses to tailor the content to meet their specific objectives. Employees can effortlessly book services and classes using the Lifemost membership app, while companies have specialized access to manage their employees’ corporate wellness programs.
Dennis Yudchitz, the CEO and founder of Lifemost, emphasizes the significance of corporate well-being activities for companies in terms of recruitment, sustainability, and employee motivation. By tailoring the platform’s content to suit each company’s unique needs, Lifemost aims to provide employees with diverse wellness options, while offering top management and HR professionals an all-in-one wellness solution with continuous analytics on engagement rates.
Initially conceived with the vision of fostering a healthier and more productive lifestyle among employees, Lifemost now boasts an extensive portfolio of 1,000+ activities spread across Dubai and Abu Dhabi. These activities are accessible through over 120 locations, with plans to expand to 300 locations by the year’s end.
Recent data highlights that 83% of employees consider their well-being to be as crucial as their salary, yet 36% of employees do not feel that their employers prioritize their well-being. This underscores the need for novel solutions in recruitment and work performance, particularly for high-level employees and specialists.
Research on corporate well-being market trends reveals that companies implementing wellness programs enjoy several benefits, including an average of 28% less absenteeism, 30% lower healthcare costs, and a 15% increase in productivity. The global well-being industry is experiencing significant growth, with consumers worldwide increasingly investing in wellness, driving the market size to surpass $4.4 trillion, and annual growth rates ranging from 5 to 10 per cent. Notably, the Middle East’s wellness industry is witnessing stable growth and is estimated to be valued at over $108 billion. In the UAE, the online health and fitness market is projected to contribute $36.5 million by 2025. Additionally, the global wellness industry is forecast to reach almost $7 trillion by 2025.